The study looked at how the price of gold affects inflation rates in different countries. They used a special model to analyze this relationship over 20 years. The results showed that when the price of gold goes up, inflation rates tend to stay high for a long time in developing countries, but only briefly in developed countries. Countries with higher incomes tend to have lower inflation rates after gold price changes. Also, countries that use inflation targeting as a monetary policy have less persistent inflation rates after gold price shocks.